I am not sure if there is a proper name for this but I am thinking about rolling a straddle or any other strategy (fly etc) on the strike dimension as opposed to time dimesion. I am thinking that with a straddle strategy as a vol trading bet, for a big price move you suddenly get outside of an optimal range for vega, or gamma for example. So in theory you can roll your straddle (sell/buy current sttrike - buy/sell new strike) and keep it on the desired moneyness value. It looks good in theory but is it done in practice? Maybe the cost is too high or any other problem? Are there any practical tips?